The owners of the home we are hoping to buy have appointed a conveyancing practitioner in Redhill who has recommended a exclusivity agreement with a deposit 10k. Is it wise to enter into such agreements?
This form of agreement isn't frequently used in Redhill, conveyancers are often inclined to direct clients away from them as they detract from focusing on the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. In addition, there is no guarantee that just because the owner has signed a lock out contract they will sell to you. They may breach the agreement if they receive a large enough offer to do so because a wronged purchaser with the benefit of a exclusivity agreement will still have to establish consequential losses from the breach and this may not equate the financial benefit that the owner may secure by breaking the contract, however morally condemnable it undoubtedly is.
Having sold my house in Redhill last March but my buyer keeps SMS messaging daily complaining that her solicitor needs to hear from mine. What are the post completion sale formalities now that I have sold?
Post completion of your sale your lawyer should forward the transfer documentation and all supplemental paperwork to the purchaser's solicitors. If applicable, your lawyer must also evidence that the home loan has been paid off to the buyers solicitors. There is unlikely to be post completion procedures unique to conveyancing in Redhill.
Our bank has recommended solicitors on their panel based in Redhill but I would rather instruct a conveyancing lawyer in Redhill local to me. Can you help?
Not all Redhill conveyancing solicitors are on all lender’s conveyancing panel. Use our find an approved solicitor tool to identify a Redhill conveyancing conveyancer on the on the lender panel.
I am buying a new build house in Redhill with a mortgage from The Mortgage Works. The developers would not reduce the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not reveal to my lawyer about this deal as it could affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
There are only 68 years remaining on my lease in Redhill. I need to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to locate the landlord. On the whole an enquiry agent would be helpful to carry out a search and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Redhill.
I inherited a garden flat in Redhill, conveyancing having been completed October 2001. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Redhill with an extended lease are worth £222,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2095
With just 70 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.